Dakic with representatives of IMF and World Bank: Bad loans are an individual problem

#MilojicaDakić #CentralBankOfMontenegro(Cbcg) #InternationalMonetaryFundImf

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Delegation of Central Bank of Montenegro CBCG, which is led by the governor of CBCG Milojica Dakic, is participating on a spring meeting of the International monetary fund and World Bank. Dakic emphasized that banking system of Montenegro is liquid and solvent, and that bad loans are cut in half compared to the historical maximum and stated that they are not a systematic problem anymore, but an individual one.

On a meeting with Min Zu – deputy of the director of IMF, there was a discussion about possibilities for technical support to Montenegro in area of payment systems supervision, creating the framework for implementation of macroprudency policy as well as for implementation of Basel III standards.

“Mutual satisfaction was expresed by completion of the FSAP program and stated that its implementation will improve Montenegrin financial stability”, it was stated from CBCG.

On a meeting with Cyril Muller, vice president of the World bank, priorities of the new Partnership framework of the World bank and Montenegro for period of 2016 – 2020 were discussed.

“It as agreed upon that main areas of future cooperation should be directed towards: increase of Montenegro’s shock resistance, reduction of unemployment and inactivity and development of private sector”, it was emphasized in CBCG.

In a conversation with the director of IFC for Europe Tomazs Telma, areas of future cooperation in support of private sector investments were discussed, especially in areas of sustainable toursim, infrastructure and projects of agro-business which are related to toursim, as well as an improvement in access to funds for micro, small and medium enterprises.

Telma notified the delegation of Montenegro that for the New partnership framework IFC plans to invest between 40 and 80 million US dollars in Montenegro.

Governor of CBCG Milojica Dakic emphasized that banking system of Montenegro is liquid and solvent, and that bad loans are cut in half compared to the historical maximum and stated that they are not a systematic problem anymore, but an individual one.

Source: Cafe Del Montenegro